While we will not be weighing in with fundamental analysis we hope this piece will give investors interested in stocks on the way down a good starting point to do further homework on the names.
Soccer season is in the dumps thanks to the coronavirus and this stock its likely heading lower. The bullish channel is defined here, but with some sharp recent volume to the downside MANU might take a header here soon.
The Relative Strength Index (RSI) is rolling over as is the moving average convergence divergence (MACD), with money flow just turning negative. A break of the channel has much lower targets ahead, perhaps to the $14 level (support).
If short, put in a stop at $18.20.
The biotech has surged since March, rising about 200%, but now appears to be rolling over. Money flow is turning bearish and a break of the channel is negative. This stock could give back a large part of the recent gains. MACD is rolling over here and is on a confirmed bearish signal.
The recent move down has shown some pretty heavy volume trends; we put that in the bearish column. Look for a move down to $12 and then $10, but put in a stop at $18.
This commentary is an excerpt from "5 Bearish Bets" a weekly feature sent to subscribers of Trifecta Stocks. Click here to learn more about this portfolio, trading ideas and market commentary product.
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-- Bob Lang and Chris Versace are co-portfolio managers of Trifecta Stocks.